- PepsiCo (NYSE:PEP) announces a round of layoffs as part of a previously-announced productivity program. A $15B share buyback program and a boost in the company's annual dividend to $3.71 per share were also unveiled this morning.
- Shares of PepsiCo are up 0.22% after the company edged past consensus estimates with its Q4 report on the back of sales strength in Europe/Sub-Saharan Africa (+11%) and Latin America (+6%). Pulling in the opposite direction for Pepsico is 2018 EPS guidance that came in a little short of consensus.
- "We are broadly impressed with Pepsi's ability to deliver bottom line results, despite the dynamic retail environment and their continued under performance in the beverage performance," says Wells Fargo (NYSE:WFC) analyst Bonnie Herzog (Market Perform, $115 PT).
- On the conference call, PepsiCo execs highlighted the upside they see through new products such as Mountain Dew Ice, Doritos Blaze and Bubly sparking water.
- Sources: CNBC and PepsiCo earnings call webcast
- Previously: PepsiCo beats by $0.01, beats on revenue (Feb. 13)
- Previously: Pepsico hikes annual dividend by 15% to $3.71 (Feb. 13)
- Previously: More on PepsiCo's Q4 beat (Feb. 13)
- Now read: PepsiCo's Stock Buybacks: A Mixed Record In Generating Value
Original article